Home Resources The launch and strategic evolution of a new innovative product drives sales performance

The launch and strategic evolution of a new innovative product drives sales performance

2 mins read
The challenge

Bringing a new product to the market, requiring linking multiple Health Care Systems/ departments within the community to reach patients as well as improving disease awareness and the importance of maintaining health in elderly communities.

Post Launch the indication and target patient expansion required step-wise strategic evolution. Our client needed their field team to be fully aligned to the evolved strategy, clear on how this should be carried out and able to execute effectively in front of HCPs.

Our solution

STEM conducted sequential projects to support the Commercial field teams on a yearly cadence starting within 6 months of product launch running into a 4th year in 2023.

By measuring team knowledge, belief, alignment and confidence in the strategy the leadership team were able to determine how the strategy and targeting should evolve. Through quantifying team execution of the strategy in the field the leadership and managers could provide further support, training and coaching to team members to ensure this was executed effectively based on the key drivers of success.

Regular project cadence every 12 months ensured teams had sufficient time to develop and implement actions, while maintaining pressure to drive continuous improvements year on year.

The results

Identification, diagnosis, improvement, empowerment, from Wave 1 through to Wave 4

STEM support allowed the continuous optimization of the strategy, leading to continuous improvement in Sales Reps confidence in strategy execution. The insights also identified opportunities for improving sales skills, resulting in effective action plans.

STEM pinpointed areas for improvement including the importance of reinforcing risk to patient populations, a best practice approach to objection handling, helped to refine call objectives based on HCP segmentation and enhancing emotional story telling.

The clear insights resulted in aligned business objectives from top to bottom with multi-department cooperation.

  • +20% Increase in Sales Team belief in the brand strategy from Wave 1 to Wave 4
  • +30% Increase in Emotive Share of Voice in Wave 4 vs Wave 2
  • +30% Increase in Good Sell Outcome achieved in Wave 4 vs Wave 1